The study investigates the changes in personal loans and consumer behavior and their interrelationship in India, focusing on the role of digitalization, shifting financial preferences, and economic variables. It studies the movement from conventional banking to fintech services with an emphasis on ease of use, openness, and reachability. This study looks into consumer?s main concerns regarding the interest rate, the trust on the lender, the loam?s duration, and other repayment terms along with protective issues of surreptitious financial practices and documentation burden. The analysis of the data on demography and behavior provides explanation to the issue of increasing dependence on the digital channels for service delivery and the determinants for borrowing in the context of the volatile economic environment of India
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Prasannan et al. (2025) studied this question.
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